Compute Adela's estimated tax payment for the second quarter. She is self employed and she expects to earn $93,440 this year. Her estimated income tax rate is 25%. For self employed persons, social security tax is 12.4% of wages up to $106,800, and Medicare tax is 2.9% of all wages.

To compute Adela's estimated tax payment for the second quarter, we need to calculate both her income tax and her self-employment taxes.

1. Income Tax Calculation:
Adela expects to earn $93,440 this year. Her estimated income tax rate is 25%. Therefore, her estimated income tax for the year can be calculated as follows:
Income Tax = (Income * Tax Rate)
Income Tax = ($93,440 * 0.25)

2. Self-Employment Taxes Calculation:
For self-employed individuals, there are two components of self-employment taxes: Social Security tax and Medicare tax.

a. Social Security Tax:
The Social Security tax rate is 12.4% of wages up to a certain limit. For 2021, the limit is $106,800. However, since Adela expects to earn $93,440, she needs to calculate the Social Security tax on that amount.
Social Security Tax = (Wages * Tax Rate)
Social Security Tax = ($93,440 * 0.124)

b. Medicare Tax:
The Medicare tax rate is 2.9% of all wages, without any limit. So, Adela needs to calculate the Medicare tax on her total earnings.
Medicare Tax = (Wages * Tax Rate)
Medicare Tax = ($93,440 * 0.029)

3. Estimated Tax Payment:
To calculate the estimated tax payment for the second quarter, divide the total estimated tax by four, since there are four quarters in a year.
Estimated Tax Payment for the Second Quarter = (Income Tax + Social Security Tax + Medicare Tax) / 4

Plug in the calculated values into the formula above to get the estimated tax payment for the second quarter.